Well, according to today's update he is still has "both legs in his metaphorical bear costume". He did admit to that throughout the day(I am just reading the summary now for the first time). I believe his position was simply long MAY SPX puts, but not really sure what strikes or the deltas, gammas of the picture...Either way with two large gaps higher, those puts are probably going to be impossible to recapture unless this thing just gaps right back down to the 850 level...
Todd Harrison is writing again
- Thread starter ez_go_win
- Start date
Well, according to today's update he is still has "both legs in his metaphorical bear costume". He did admit to that throughout the day(I am just reading the summary now for the first time). I believe his position was simply long MAY SPX puts, but not really sure what strikes or the deltas, gammas of the picture...Either way with two large gaps higher, those puts are probably going to be impossible to recapture unless this thing just gaps right back down to the 850 level...
Haven't read him in about 2 weeks.
Anyone can be a contrarian and score big... but one has to know the reason they are doing so and have a valid reason beyond trying to be 'slick' in going against the crowd and believing they know better. Particularly in his case, where it looks like he's been early for the past two months!!
Ice
His style is heavily oriented towards options and he's admited that he's been overly cautious with these rallies. But he also states that he'll get long some spy in a strong tape, or "rent exposure" as he puts it. He is setting up a lot of gamma trades now, combining mostly May puts and trading common against that.
His bearish views are bigger picture, and he legs into these positions, with the caveat that he's almost always early. I'd guess he's hitting small singles and scratching it out during the rallies and making bank on the sell offs.
His bearish views are bigger picture, and he legs into these positions, with the caveat that he's almost always early. I'd guess he's hitting small singles and scratching it out during the rallies and making bank on the sell offs.
Insight into a great trader's thought process and views of the market. Some idea of the 'flow' on the street and how most intitutions and hedgies are positioning.
It's true, he doesn't give enough details like in the RealMoney days to trade directly off of. But you get the gist of what he's doing and I've gotten some good ideas from it. Worth way more than the 10 bucks a month they charge.
It's true, he doesn't give enough details like in the RealMoney days to trade directly off of. But you get the gist of what he's doing and I've gotten some good ideas from it. Worth way more than the 10 bucks a month they charge.
is a great guy... with worthless ideas.... so far! Is it me, or has anyone gotten one worthwhile piece of info from Todd Harrison... himself (not talking about his new guys)??
This guy is a broken record... always buying puts.
Notice he never talks about how much he MUST be losing on them... with this kind of upside action! Here is this notable trader with all these rules, yet he is trying to tell the market what it should do... what he knows it must do.
I need a refund!
Ice
This guy is a broken record... always buying puts.
Notice he never talks about how much he MUST be losing on them... with this kind of upside action! Here is this notable trader with all these rules, yet he is trying to tell the market what it should do... what he knows it must do.
I need a refund!
Ice
iceman,
You've got a point. He's really been leaning into the wind lately. I would like to know how he's done. It's possible he has dodged the bullets, as he scales in and took advantage of a couple of down days to unload puts, then reloaded when the market opened higher. He also buys stock during the day.
He never claimed to be a totally technical trader. He has a viewpoint, which I suppose can be summarized as we don't get a big bull market here. He's been dead wrong on the financials. If you believe Jm Cramer, they are out of the woods here. Interesting to see who's right.
You've got a point. He's really been leaning into the wind lately. I would like to know how he's done. It's possible he has dodged the bullets, as he scales in and took advantage of a couple of down days to unload puts, then reloaded when the market opened higher. He also buys stock during the day.
He never claimed to be a totally technical trader. He has a viewpoint, which I suppose can be summarized as we don't get a big bull market here. He's been dead wrong on the financials. If you believe Jm Cramer, they are out of the woods here. Interesting to see who's right.
I think you are way oversimplifying to say that he just buys puts and eats constant losses on them. Sounds like the core style he's been employing lately is long puts, long stock on a ratio that gets him longer as the market rallies and shorter as it falls.
His bull/bear posture thing speaks of his conviction about a direction. He always emphasizes that having a thesis on the market and fighting the tape are two very different things. He has been consistently bearish throughout this bullish phase though.
His bull/bear posture thing speaks of his conviction about a direction. He always emphasizes that having a thesis on the market and fighting the tape are two very different things. He has been consistently bearish throughout this bullish phase though.
yes but not much chance of that happening.maybe they dont want it to be clear. it might not look so good.
its just like cramers site.they dont post records for a reason. i have done most of the free trials of the newsletters. most lost you money including cramer. some lost you big money. if these guys had a good track record they would paste it all over the site bragging about it.